Crop sales,shortages and peasant portfolio behaviour: An analysis of Angola

The article focuses on the influence of economic factors on sales of agricultural products in Angola. Between the early 1970s and the mid‐1980s the volume of sales declined by around 90 per cent, while during the late 1980s there was a significant recovery. This was partly due to non‐economic factors such as war and drought. However, the rural economy also experienced extraordinary regulatory changes which led to a severe shortage of consumer goods. The theory of peasant supply response in a rationed economy therefore provides a starting point for the analysis and is further extended to incorporate features particular to Angola.